reported $278.9 million of ret

Managerial Accounting
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ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 13E: Ratio of liabilities to stockholders equity and times interest earned The following data were taken...
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STATEMENT OF STOCKHOLDERS’ EQUITY Computer World Inc. paid out $22.5 million
in total common dividends and reported $278.9 million of retained earnings at year-end.
The prior year’s retained earnings were $212.3 million. What was the net income? Assume
that all dividends declared were actually paid.

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